Vir Biotechnology, Inc. Stock Price, News & Analysis

Vir Biotechnology (Nasdaq: VIR) and GlaxoSmithKline announced significant findings in preclinical tests of sotrovimab against the Omicron variant of SARS-CoV-2. Results show that sotrovimab retains activity against all tested variants, including Omicron and Delta. The COMET-ICE trial indicated a 79% reduction in hospitalization or death for treated patients. Sotrovimab is authorized for emergency use in the U.S. and various other countries, with further regulatory applications pending in Europe.

GlaxoSmithKline and Vir Biotechnology announced preclinical results showing that their monoclonal antibody, sotrovimab, maintains efficacy against all tested SARS-CoV-2 variants, including key mutations of the Omicron variant. This data suggests that sotrovimab could be a viable treatment option as the virus continues to mutate. The companies are finalizing in vitro pseudo-virus testing to further confirm these findings. Sotrovimab is currently authorized for emergency use in several countries, including the US, and has shown significant efficacy in clinical trials, with a reported 79% reduction in hospitalization rates.

Vir Biotechnology (VIR) and GlaxoSmithKline have secured US government contracts worth approximately $1 billion for the purchase of sotrovimab, a monoclonal antibody for COVID-19. This agreement aims to enhance nationwide access to the treatment, with a total of over 750,000 doses contracted globally. Clinical trials indicated a 79% reduction in hospitalization and death risk in high-risk patients. Sotrovimab shows efficacy against the Delta variant and is authorized for specific patient groups, amidst ongoing evaluations in response to evolving COVID-19 variants.

Vir Biotechnology released new data on its investigational HBV therapies, VIR-2218 and VIR-3434, showing significant reductions in hepatitis B surface antigen (HBsAg) levels and positive safety profiles. Preliminary results from ongoing clinical trials demonstrated that 95% of participants receiving VIR-2218 with PEG-IFN-α achieved HBsAg levels below 100 IU/mL. The data will be presented at the AASLD Liver Meeting 2021. The company aims for a functional cure for the 290 million chronic HBV patients worldwide, with a robust pipeline of ongoing trials.

The COMET-TAIL Phase 3 trial results indicate that sotrovimab, administered intramuscularly, is non-inferior in efficacy to intravenous administration for treating mild-to-moderate COVID-19 in high-risk non-hospitalized patients. The trial enrolled 983 participants during the Delta variant wave, with a hospitalization/death rate of 2.7% for IM versus 1.3% for IV. The adjusted difference fell within the pre-set 3.5% margin established with the FDA. Both groups showed low adverse event rates. Regulatory submissions are planned globally, highlighting sotrovimab's potential to enhance treatment accessibility.

Vir Biotechnology reported significant progress in the third quarter of 2021, securing binding sales agreements for over 420,000 doses of sotrovimab, generating $102.4M in collaboration revenue from more than 50,000 doses delivered. The company anticipates key fourth-quarter milestones, including topline data on sotrovimab's intramuscular administration and new hepatitis B data. Net income soared to $110.4M or $0.85 per share, compared to a loss of $84.6M in the same quarter last year. As of September 30, cash and equivalents were approximately $939.5M.

Vir Biotechnology, Inc. (Nasdaq: VIR) announced plans to provide a corporate update and report its financial results for the third quarter ending September 30, 2021, on November 4, 2021. The report will be accessible via a press release on the company's website following market close. Vir Biotechnology focuses on innovative immunological solutions for infectious diseases, utilizing four technology platforms for its development pipeline, which includes candidates targeting COVID-19 and other viral infections.

Vir Biotechnology, Inc. (Nasdaq: VIR) announced the acceptance of three abstracts showcasing its hepatitis B clinical program for presentation at the AASLD The Liver Meeting, scheduled for November 12-15, 2021. Among these, a key oral presentation will detail Phase 2 study results for VIR-2218, an investigational siRNA targeting chronic hepatitis B. Two posters will focus on VIR-3434, a monoclonal antibody aimed at inhibiting HBV, as well as patient experiences with chronic HBV. These presentations underscore the company's commitment to advancing innovative treatments against hepatitis B.

Vir Biotechnology announced that Chief Medical Officer Phil Pang, M.D., Ph.D., will present at the H.C. Wainwright 2nd Annual Hepatitis B Virus Conference on October 13 at 9:30 a.m. PT / 12:30 p.m. ET. A live webcast will be available via the Investors section of the Vir website and will be archived for 30 days post-event.

Vir focuses on using advanced technologies to combat serious infectious diseases, with ongoing projects targeting COVID-19, hepatitis B, influenza A, and HIV.